Business
Petco Announces Launch of Debt Refinancing Transaction; Reaffirms Fourth Quarter and Full Fiscal Year 2025 Outlook
SAN DIEGO, Jan. 12, 2026 /PRNewswire/ -- Petco (Nasdaq: WOOF) today announced the launch of a debt refinancing transaction to extend maturities and reaffirmed
About this update from Petco Health And Wellness Company, Inc.
[{"type":"text","content":"SAN DIEGO, Jan. 12, 2026 /PRNewswire/ -- Petco (Nasdaq: WOOF) today announced the launch of a debt refinancing transaction to extend maturities and reaffirmed its guidance for the fourth quarter and full fiscal year 2025 ending January 31, 2026.\n \n \n \n \n \n \n \nPetco intends to refinance $1.5 billion of its current term loan outstanding subject to market and other conditions and therefore can provide no assurances that it will complete the refinancing in whole or in part. Petco previously completed a $50 million voluntary prepayment in December 2025 with cash on hand and may elect to prepay an additional amount under its $100 million board authorization.In connection with any potential refinancing transaction, Petco is reaffirming its guidance for Net Sales and Adjusted EBITDA for the fourth quarter and full fiscal year 2025 outlook.\"We are pleased with what the team has been able to accomplish year to date in fiscal 2025. This performance continues to be a testament to the execution of our nearly 30,000 team members and the resilience of the category in which we operate,\" said Joel Anderson, Petco's Chief Executive Officer.FY 2025 Outlook*Q4 2025 Outlook*Net SalesDown 2.5% - 2.8%Down low single digits year over yearAdjusted EBITDA$395 million to $397 million$93 million to $95 million*Assumptions in the outlook include that economic conditions, currency rates and the tax and regulatory landscape remain generally consistent, and that current or planned tariffs on imports into the U.S. from other countries remain at January 12, 2026 levels. Adjusted EBITDA is a non-GAAP financial measure and has not been reconciled to the most comparable GAAP outlook because it is not possible to do so without unreasonable efforts due to the uncertainty and potential variability of reconciling items, which are dependent on future events and often outside of management's control and which could be significant. Because such items cannot be reasonably predicted with the level of precision required, we are unable to provide outlook for the comparable GAAP measures. Forward-looking estimates of Adjusted EBITDA are made in a manner consistent with the relevant definitions and assumptions noted herein and in our filings with the Securities and Exchange Commission.About Petco We're proud to be \"where the pets go\" to find everything they need to ...